Empirical Finance LLC Acquires 299 Shares of Incyte Corporation (NASDAQ:INCY)

Empirical Finance LLC increased its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 4.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,466 shares of the biopharmaceutical company’s stock after acquiring an additional 299 shares during the quarter. Empirical Finance LLC’s holdings in Incyte were worth $392,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Raiffeisen Bank International AG bought a new position in Incyte during the fourth quarter worth about $34,000. NBC Securities Inc. increased its holdings in Incyte by 88,200.0% in the 1st quarter. NBC Securities Inc. now owns 883 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 882 shares during the period. Huntington National Bank increased its holdings in Incyte by 40.7% in the 4th quarter. Huntington National Bank now owns 934 shares of the biopharmaceutical company’s stock valued at $65,000 after buying an additional 270 shares during the period. Intact Investment Management Inc. bought a new position in Incyte in the 1st quarter valued at about $73,000. Finally, Colonial Trust Co SC increased its holdings in Incyte by 41.7% in the 4th quarter. Colonial Trust Co SC now owns 1,481 shares of the biopharmaceutical company’s stock valued at $102,000 after buying an additional 436 shares during the period. 96.97% of the stock is owned by institutional investors.

Incyte Stock Down 0.1%

NASDAQ:INCY opened at $70.16 on Tuesday. The firm’s 50 day simple moving average is $68.02 and its 200 day simple moving average is $66.52. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.04 and a quick ratio of 2.00. Incyte Corporation has a one year low of $53.56 and a one year high of $83.95. The company has a market cap of $13.58 billion, a PE ratio of 219.26, a P/E/G ratio of 0.59 and a beta of 0.68.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.01 by $0.15. Incyte had a net margin of 0.48% and a return on equity of 2.77%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $996.17 million. During the same period last year, the company earned $0.64 EPS. The firm’s revenue was up 19.5% compared to the same quarter last year. On average, research analysts anticipate that Incyte Corporation will post 4.86 earnings per share for the current year.

Insider Buying and Selling at Incyte

In related news, EVP Vijay K. Iyengar sold 1,177 shares of Incyte stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $69.86, for a total transaction of $82,225.22. Following the sale, the executive vice president directly owned 35,929 shares in the company, valued at $2,509,999.94. This trade represents a 3.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Barry P. Flannelly sold 1,192 shares of Incyte stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $69.86, for a total transaction of $83,273.12. Following the sale, the executive vice president owned 37,630 shares in the company, valued at approximately $2,628,831.80. This represents a 3.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,098 shares of company stock valued at $3,836,196 in the last quarter. 17.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on INCY shares. UBS Group reissued a “neutral” rating and issued a $61.00 target price on shares of Incyte in a report on Tuesday, June 3rd. Wall Street Zen upgraded Incyte from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 30th. Wells Fargo & Company upped their target price on Incyte from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. cut their target price on Incyte from $68.00 to $67.00 and set a “neutral” rating for the company in a research note on Monday, July 14th. Finally, Royal Bank Of Canada set a $67.00 target price on Incyte and gave the stock a “sector perform” rating in a research note on Monday, June 23rd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $74.47.

Incyte Profile

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.